Question

Attempts: Keep the Highest: 75 2. Inputs and outputs Carlos's Performance Pizza is a small restaurant in New York City that sells gluten-free pizzas. Carlos's very tiny kitchen has barely enough room for the four ovens in which his workers bake the pizzas. Carlos signed a lease obligating him to pay the rent for the four ovens for the next year. Because of this, and because Carlos's kitchen cannot fit more than four ovens, Carlos cannot change the number of ovens he uses in his production of pizzas in the short run. However, Carlos's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Carlos lets them know how many workers he needs for each day of the week. In the short run, these workers are variable inputs, and the ovens are fixed inputs.. Carlos's daily production schedule is presented in the following table. Fill in the blanks to complete the Marginal Product of Labor column for each worker Labor Output Marginal Product of Labor (Number of workers) (Plzzas) (Pizzas) 0 0 60 2 100 130 4 150 160 On the following graph, plot Carlos's production function using the green paints (triangle symbol) Note: Plot your points in the order.in which you would like them.connectadiLine searments.wlLco0DEct theE points automatically MacBook

Answer 1

Answer:

In the short run, these workers are variable inputs, and the ovens are fixed inputs.

Number of workers	Output(Q)	Marginal product of labor = Change in Output = Qn – Qn-1
0	0	0
1	60	60
2	100	40
3	130	30
4	150	20
5	160	10

200 100 Production Function 100 40 120 100 00 40 20 LABOR (Number of workers) (eznd) indino JO ONNO

Quantity of output Output(Q)	Fixed Cost FC	Variable Cost VC	Total Cost = FC + VC
0	20	0	20
60	20	30	50
100	20	60	80
130	20	90	110
150	20	120	140
160	20	150	170

? 200 180 Total Cost 160 140 120 100 B0 60 40 20 0 20 60 100 180 0 40 80 120 140 160 200 QUANTITY OF OUTPUT (Pizzas) TOTAL COST (Dollars)

False:

The shape of the production function reflects the law of diminishing marginal returns